Virtus Global Multi-Sector Income Fund (NYSE:VGI) Stock Price Down 1.2% – Should You Sell?

Virtus Global Multi-Sector Income Fund (NYSE:VGI) shares dropped 1.2% during trading on Thursday . The company traded as low as $7.73 and last traded at $7.7390. Approximately 66,863 shares changed hands during trading, an increase of 76% from the average daily volume of 38,019 shares. The stock had previously closed at $7.83.

Virtus Global Multi-Sector Income Fund Price Performance

The firm has a fifty day simple moving average of $7.85 and a two-hundred day simple moving average of $7.86.

Virtus Global Multi-Sector Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, February 12th. This represents a c) dividend on an annualized basis and a dividend yield of 12.4%.

Institutional Trading of Virtus Global Multi-Sector Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of VGI. NewEdge Advisors LLC boosted its position in shares of Virtus Global Multi-Sector Income Fund by 92.3% during the third quarter. NewEdge Advisors LLC now owns 140,371 shares of the company’s stock valued at $1,115,000 after purchasing an additional 67,371 shares in the last quarter. Bank of America Corp DE grew its position in shares of Virtus Global Multi-Sector Income Fund by 176.2% in the 3rd quarter. Bank of America Corp DE now owns 10,440 shares of the company’s stock worth $83,000 after buying an additional 6,660 shares during the period. Comerica Bank increased its stake in shares of Virtus Global Multi-Sector Income Fund by 28.9% in the 3rd quarter. Comerica Bank now owns 5,818 shares of the company’s stock worth $46,000 after acquiring an additional 1,303 shares in the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of Virtus Global Multi-Sector Income Fund by 5.0% during the third quarter. SeaCrest Wealth Management LLC now owns 48,704 shares of the company’s stock valued at $389,000 after purchasing an additional 2,340 shares during the last quarter. Finally, Integrity Advisory Solutions LLC purchased a new stake in shares of Virtus Global Multi-Sector Income Fund in the 3rd quarter worth approximately $91,000.

About Virtus Global Multi-Sector Income Fund

Virtus Global Multi-Sector Income Fund is a closed ended fixed income mutual fund launched by Virtus Investment Partners, Inc The fund is co-managed by Virtus Investment Advisers, Inc and Newfleet Asset Management, LLC. It invests in fixed income markets across the globe. The fund invests in both investment grade and high yield debt instruments issued by the government, corporate, bank loans, mortgage-backed securities, asset-backed securities, taxable municipal bonds, and tax-exempt municipal bonds.